Udemy (NASDAQ:UDMY) Reaches New 52-Week Low – Here’s What Happened

Udemy, Inc. (NASDAQ:UDMY)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.35 and last traded at $4.4750, with a volume of 251689 shares. The stock had previously closed at $4.69.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. KeyCorp downgraded Udemy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, January 13th. Canaccord Genuity Group set a $5.00 price objective on shares of Udemy in a research report on Monday. Wall Street Zen raised Udemy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Udemy in a report on Thursday, October 30th. Finally, Zacks Research downgraded shares of Udemy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.75.

Udemy Stock Up 0.3%

The company has a market capitalization of $688.72 million, a P/E ratio of 235.37 and a beta of 1.72. The company’s fifty day moving average price is $5.36 and its 200 day moving average price is $6.12.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Udemy had a return on equity of 4.78% and a net margin of 0.48%.The business had revenue of $193.99 million for the quarter, compared to analyst estimates of $193.40 million. During the same period last year, the firm posted $0.10 earnings per share. Udemy’s revenue was down 3.0% compared to the same quarter last year. Research analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Udemy

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $5.25, for a total value of $131,250.00. Following the sale, the chief financial officer owned 1,208,046 shares in the company, valued at approximately $6,342,241.50. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Udemy by 3.8% during the third quarter. Vanguard Group Inc. now owns 11,895,585 shares of the company’s stock worth $83,388,000 after acquiring an additional 436,984 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Udemy by 70.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,474,417 shares of the company’s stock worth $31,366,000 after purchasing an additional 1,854,550 shares during the period. Geode Capital Management LLC increased its stake in shares of Udemy by 3.7% in the second quarter. Geode Capital Management LLC now owns 2,313,651 shares of the company’s stock valued at $16,267,000 after purchasing an additional 81,599 shares during the period. Westerly Capital Management LLC bought a new position in Udemy during the third quarter valued at about $15,878,000. Finally, UBS Group AG raised its position in Udemy by 56.8% during the third quarter. UBS Group AG now owns 1,786,371 shares of the company’s stock valued at $12,522,000 after buying an additional 646,755 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Company Profile

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.